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Biodiesel Raising fuel price Near Future- Market Overview

The global Biodiesel Market is estimated to surpass $48 billion mark by 2023 growing at an estimated CAGR of more than 6.6% during 2020 to 2023.

Major lead player who are currently working in the market including Diester Industries, Neste Oil, ADM, Infinita Renovables, Biopetrol, Cargill, Ital Green Oil, Glencore, Louis Dreyfus.

     In 2020, the global markets for biodiesel are entering a period of rapid, transitional growth, creating both uncertainty and opportunity. The first generation biodiesel markets in Europe and the US have reached impressive biodiesel production capacity levels, but remain constrained by feedstock availability. In the BRIC nations of Brazil, India and China, key government initiatives are spawning hundreds of new opportunities for feedstock development, biodiesel production, and export" said Biodiesel 2020 author Will Thurmond. IHS Markit is predicting a 65% y/y decline in April gasoline demand (a 1.3 mln barrels per day (bpd) drop off). Gasoil demand will fall by -40%, (close to 3.0 mln bpd) in the same month, with gasoil bunkers impacted, but the large part taken up by road diesel demand. Diesel demand in 2020 is seen contracting by 10%. The expected decline in diesel demand coincides with an increase in biodiesel blending in several member states in 2020, the year when the 10.0% cal. renewable energy target in land transport in the Renewable Energy Directive (RED) and the 6.0% greenhouse gas reduction target in the Fuel Quality Directive come into the force.

      Neste Oil Companies that have recently announced moves to produce renewable diesel include CVR Energy, Marathon Petroleum Corp, Phillips 66 and HollyFrontier Corp, Renewable diesel fuel burns cleaner than conventional diesel can run without blending. Refiners can produce it by converting gasoline making units to hydrotreaters that can process soybean oil or used cooking grease.

     By the product type, the Biofuels markets primarily split into Bioethanol, Biodiesel. On the basis of feedstock, the market is segregated into vegetable oil, animal fats and brown grease or trap grease. Based on the applications, biodiesel market can be segregated into two major, mainly transportation and power generation.

           The report focuses on global major leading industry players of Global Biodiesel market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information.

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